Fiat currencies themselves are the best argument for holding precious metals, and you can see that Gold is not only valued differently from West to East (as more and more of it flows from West to East), but within the West itself.
Naked paper shorting on the COMEX to suppress spot price has been a routine event during the past few years in the US, and I've talked about it a lot....so I won't again here. Instead, let's look across currency markets:
- Gold YTD in US$ <1 .6="">
- Gold YTD in GBP +1.6%
- Gold YTD in EUR +10.1
That should tell you something.
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